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New Pacific Metals hits near surface, silver mineralization at Bolivia project

The aim of this year's resource definition program was to add to the geological understanding of the currently defined core

New Pacific Metals -
Highlight results included 93.08 m at 289 g/t silver from 223.15 m to 316.23 m, including 23.41 m at 1,035 g/t silver from 261.44 m to 284.85 m

Junior explorer New Pacific Metals Corp (CVE:NUAG) told investors it has hit near surface, silver mineralization as it posted assays for 75 holes at its wholly-owned Silver sand project in Bolivia.

The aim of this year's resource definition program at the property was to add to the geological understanding of the currently defined core.

"Drilling continues to intersect broad intervals of vein and fracture controlled, near surface, silver mineralization with results from this program ranging from approximately 50 to 200 metres (m) thick and returning average silver values from 33 to 289g/t," the company said in a statement. 

Within these broad intervals, narrower zones of higher grade silver occur commonly from 2.5 to plus 10 m wide with average values over those widths of up to 1,035 grams per ton (g/t), it added. 

Highlight results included 93.08 m at 289 g/t silver from 223.15 m to 316.23 m, including 23.41 m at 1,035 g/t silver from 261.44 m to 284.85 m.

There was also an intersection of 51.53 m at 268 g/t silver from 75.66 m to 127.19 m, including 3.48 m at 442 g/t silver from 181.87 m to 185.35 m.

Silver Sand was acquired in 2017 ad since then, the firm has completed several discoveries and definition drill campaigns.

WATCH: New Pacific Metals continues to be impressed by its Silver Sand project in Bolivia

As well as 195 holes for a total of 55,010m completed in 2018, 162 drill holes for a total of 35,414 m were sunk in the core area of Silver Sand since April 2019.

The last remaining planned drill holes for 2019 are now being completed with two crews. Other activities remaining include geological logging and sampling of completed holes, data analysis and various QA/QC initiatives in preparation for a maiden NI 43-101 resource estimate in Q1 2020.

Notably, New Pacific has also identified several high priority targets on the property package, of which, the Snake Hole prospect has been drill-tested and assays are pending.

Shares in Toronto added 1.72% to stand at C$4.74

Contact the author at [email protected]

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Price: 4.89 CAD

TSX-V:NUAG
Market: TSX-V
Market Cap: $719.99 m
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